NORTHCONSTRUCT: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
NORTHCONSTRUCT
Largest movements
- Receivables within one year +€742,578
up €742,578 (+227.4%), from €326,504 to €1.1m
of which Other amounts receivable: +€834,039
- Other debts +€811,438
up €811,438 (+4208.5%), from €19,281 to €830,719
- Trade debts -€148,868
down €148,868 (-88.2%), from €168,718 to €19,850
- Profit (loss) carried forward +€49,519
up €49,519 (+50.7%), from €97,768 to €147,287
- Tax, wage and social debts +€39,179
up €39,179 (+152.6%), from €25,675 to €64,854
of which Taxes: +€34,334
- Advances received -€11,223
no longer reported in 2025 (was €11,223)
- Gross operating margin +€31,463
up €31,463 (+54.1%), from €58,205 to €89,668
- Taxes +€9,519
up €9,519 (+111.8%), from €8,515 to €18,034
- Staff costs +€3,175
up €3,175 (+21.4%), from €14,833 to €18,008
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €332,663 | €1,072,710 | +€740,046 | +222.5% |
| Fixed assets | 21/28 | €5,980 | €3,460 | -€2,519 | -42.1% |
| Tangible fixed assets | 22/27 | €5,980 | €3,460 | -€2,519 | -42.1% |
| Furniture and vehicles | 24 | €5,980 | €3,460 | -€2,519 | -42.1% |
| Current assets | 29/58 | €326,684 | €1,069,250 | +€742,566 | +227.3% |
| Amounts receivable within one year | 40/41 | €326,504 | €1,069,083 | +€742,578 | +227.4% |
| Trade receivables | 40 | €174,750 | €83,289 | -€91,461 | -52.3% |
| Other amounts receivable | 41 | €151,755 | €985,794 | +€834,039 | +549.6% |
| Cash at bank and in hand | 54/58 | €180 | €167 | -€13 | -7.0% |
| Total equity and liabilities | 10/49 | €332,663 | €1,072,710 | +€740,046 | +222.5% |
| Equity | 10/15 | €107,768 | €157,287 | +€49,519 | +46.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €97,768 | €147,287 | +€49,519 | +50.7% |
| Amounts payable | 17/49 | €224,896 | €915,422 | +€690,527 | +307.0% |
| Amounts payable within one year | 42/48 | €224,896 | €915,422 | +€690,527 | +307.0% |
| Trade debts | 44 | €168,718 | €19,850 | -€148,868 | -88.2% |
| Suppliers | 440/4 | €168,718 | €19,850 | -€148,868 | -88.2% |
| Advances received on contracts in progress | 46 | €11,223 | - | -€11,223 | |
| Taxes, remuneration and social security | 45 | €25,675 | €64,854 | +€39,179 | +152.6% |
| Taxes | 450/3 | €21,684 | €56,018 | +€34,334 | +158.3% |
| Remuneration and social security | 454/9 | €3,991 | €8,835 | +€4,845 | +121.4% |
| Other amounts payable | 47/48 | €19,281 | €830,719 | +€811,438 | +4208.5% |
| Remuneration, social security and pensions | 62 | €14,833 | €18,008 | +€3,175 | +21.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,994 | €3,742 | -€252 | -6.3% |
| Other operating charges | 640/8 | €322 | €153 | -€170 | -52.6% |
| Gross operating margin | 9900 | €58,205 | €89,668 | +€31,463 | +54.1% |
| Operating profit (loss) | 9901 | €39,056 | €67,766 | +€28,709 | +73.5% |
| Financial charges | 65/66B | €304 | €212 | -€91 | -30.1% |
| Recurring financial charges | 65 | €304 | €212 | -€91 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €38,753 | €67,554 | +€28,801 | +74.3% |
| Income taxes | 67/77 | €8,515 | €18,034 | +€9,519 | +111.8% |
| Profit (loss) for the period | 9904 | €30,238 | €49,519 | +€19,282 | +63.8% |
| Profit (loss) for the period to be appropriated | 9905 | €30,238 | €49,519 | +€19,282 | +63.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.